Chapter 13

Definition of "Chapter 13"

A judicially approved plan in which a persons obligations are paid over three years. It is an arrangement for the repayment of debts which permits a credit user in severe financial straits to pay off credit obligations without declaring bankruptcy. See also bankruptcy; wage-earner plan.

Search Real Estate Glossary

Related Real Estate Glossary terms

Section 401 (h) Pension Plan Trust

Trust established under the auspices of the Internal Revenue Code that permits the maintenance of a ...

Secular Trust [402(b)] (nonexempt Trust)

Non qualified plan of deferred compensation whose goal is to compensate key employees without having ...

Automobile Assigned Risk Insurance Plan

Coverage in which individuals who cannot obtain conventional automobile liability insurance, usually ...

Offer And Acceptance

Submission of the application and the first premium by the prospective insured the "offer" and the i ...

Demurrage

Compensation payable to the owner of a ship detained for reasons beyond his or her control who incur ...

Document

Any recorded materials including letters, photographs, inscriptions, text, reproducible computer fil ...

Related Real Estate FAQ

What Is A Principal?

Principal is the amount of money borrowed and still owed on a loan not including the interest. ...

What Is A Ginnie Mae?

A Ginnie Mae is a name for the Government National Mortgage Association (GNMA), which is a governmen ...

What Are Closing Costs?

Closing costs are expenses incurred by buyers and sellers in transferring ownership of a property. ...

What Is Loan Amortization?

This calculator will amortize your mortgage over the loan period based on your input. To see a break ...

What Is A Quit Claim Deed?

A quit claim deed is a formal document that denies a claim to a certain property. Often used to clea ...

What Is A Sales Contract?

A sales contract is the contract you draw up when you want to make an offer on a home. ...

Read why Real Estate Agent rates 5 Stars in 10 Agent Reviews

Agents join here

Add our widget on your Website

Real Estate Advice

Rent or Buy - the pros and cons How Does The Home Loan Underwriting Process Work? 7 Things to Consider Before Moving to a New City 6 Reasons you are not selling properties How To Get A Loan with Bad Credit

FAQ

What is a seller takeback? How much Life Insurance do I need? What are closing costs? What do I need to know about Group Health Insurance? Is depreciation common?